I have been summoned for a defaulted chase credit card debt of 13k. I live in Georgia. Chase sold the debt to the Equable Ascent Financial, LLC Will they negotiate and is there a standard percentage I should offer? My tax man said the banks have received such a boost from recovery that they are under some pressure to settle accounts. I have to respond by the 15th to my summons. Chase also owns my mortgage, which is current. I am not really contesting the debt, other than the 29 percent interest they stuck me with.

Please advise,

Junction

Do not make any offer at this point. When was the very last payment made on this debt?

If the SOL is not past, and you have money in the bank or a good job they have little reason to settle since they can get a judgement and take the money in the bank and get in GA about 25 percent of each paycheck before you get it.

Actually banks are not doing very well, still too many foreclosures and they are being much more aggressive in filing law suits